Applied DNA Sciences Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Applied DNA Sciences Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and significant events.</b>

AI Summary

APPLIED DNA SCIENCES INC (BNBX) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. The company filed a 10-Q report for the period ending March 31, 2024. The filing covers the fiscal quarter ending March 31, 2024. The company's fiscal year ends on September 30. The filing includes information on common stock and warrants. Subsequent events up to April 25, 2024, are noted.

Why It Matters

For investors and stakeholders tracking APPLIED DNA SCIENCES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Applied DNA Sciences Inc., crucial for understanding its current operational health and strategic direction. The inclusion of subsequent events offers insight into recent developments that could impact the company's future performance and investor outlook.

Risk Assessment

Risk Level: medium — APPLIED DNA SCIENCES INC shows moderate risk based on this filing. The company's financial health and operational status are detailed in this 10-Q, which is a standard but essential filing for understanding its current standing.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-Q to assess the company's performance and future prospects.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 0930 — Fiscal Year End (FISCAL YEAR END)
• 2024-04-25 — Latest Subsequent Event Date (us-gaap:SubsequentEventMember)

Key Players & Entities

• APPLIED DNA SCIENCES INC (company) — FILER
• 0000744452 (company) — CENTRAL INDEX KEY
• 8734 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 592262718 (company) — IRS NUMBER
• STONY BROOK (company) — CITY
• NY (company) — STATE
• 11790 (company) — ZIP

FAQ

Industry Context

Applied DNA Sciences operates in the biotechnology and testing laboratories sector, focusing on DNA-based technologies for various applications.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the quarterly 10-Q report, ensuring transparency for investors.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze the 'Subsequent Events' section for recent developments impacting the company.
3. Assess the company's business segments and their performance as detailed in the report.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2024-04-25: Subsequent Event — Latest noted event occurring after the reporting period.

Year-Over-Year Comparison

This is the 10-Q filing for the quarter ending March 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — ge on which registered Common Stock, $0.001 par value APDN The Nasdaq Stock Mar

Filing Documents

• apdn-20240331x10q.htm (10-Q) — 1597KB
• apdn-20240331xex31d1.htm (EX-31.1) — 14KB
• apdn-20240331xex31d2.htm (EX-31.2) — 14KB
• apdn-20240331xex32d1.htm (EX-32.1) — 7KB
• apdn-20240331xex32d2.htm (EX-32.2) — 7KB
• 0001410578-24-000733.txt (&nbsp;) — 6987KB
• apdn-20240331.xsd (EX-101.SCH) — 43KB
• apdn-20240331_cal.xml (EX-101.CAL) — 40KB
• apdn-20240331_def.xml (EX-101.DEF) — 189KB
• apdn-20240331_lab.xml (EX-101.LAB) — 328KB
• apdn-20240331_pre.xml (EX-101.PRE) — 275KB
• apdn-20240331x10q_htm.xml (XML) — 1433KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- Condensed Consolidated Financial Statements (unaudited)

Item 1 - Condensed Consolidated Financial Statements (unaudited) 1

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 21

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 34

- Controls and Procedures

Item 4 - Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 35

– Risk Factors

Item 1A – Risk Factors 35

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 37

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 37

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 37

– Other Information

Item 5 – Other Information 37

– Exhibits

Item 6 – Exhibits 38 Table of Contents

- Financial Information

Part I - Financial Information

- Financial Statements

Item 1 - Financial Statements APPLIED DNA SCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, September 30, 2024 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 3,149,640 $ 7,151,800 Accounts receivable, net of allowance for credit losses of $ 75,000 at March 31, 2024 and September 30, 2023, respectively 408,853 255,502 Inventories 335,943 330,027 Prepaid expenses and other current assets 470,284 389,241 Total current assets 4,364,720 8,126,570 Property and equipment, net 367,821 838,270 Other assets: Restricted cash 750,000 750,000 Intangible assets 2,698,975 2,698,975 Operating right of use asset 994,111 1,237,762 Total assets $ 9,175,627 $ 13,651,577 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Accounts payable and accrued liabilities $ 2,050,035 $ 2,270,388 Operating lease liability, current 521,719 498,598 Deferred revenue 51,285 76,435 Total current liabilities 2,623,039 2,845,421 Long term accrued liabilities 31,467 31,467 Deferred revenue, long term 194,000 194,000 Operating lease liability, long term 472,391 739,162 Deferred tax liability, net 684,115 684,115 Warrants classified as a liability 5,346,000 4,285,000 Total liabilities 9,351,012 8,779,165 Commitments and contingencies (Note G) Applied DNA Sciences, Inc. stockholders' (deficit) equity: Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; -0- shares issued and outstanding as of March 31, 2024 and September 30, 2023, respectively — — Series A Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; -0- issued and outstanding as of March 31, 2024 and September 30, 2023, respectively — — Series B Preferred stock, par value $ 0.001 per share; 10,000,000 shares authorized; -0- issued and outstanding as of March 31, 2024 and September 30, 2023, respectively — — Co

View Full Filing

View this 10-Q filing on SEC EDGAR